LUKOIL BUYS OMV LUBRICANT BUSINESS IN EUROPE
LUKOIL and OMV Refining & Marketing GmbH signed a contract to finalize the purchase of OMVís lubricant blending plant located in the suburbs of Vienna, Austria, by ООО LLC-International (a wholly-owned LUKOIL subsidiary). Besides the plant with a capacity of 35 thousand tons per year, the contract includes a number of distribution units for finished products in Austria, Bulgaria, Hungary, Germany, Romania, Slovenia, Slovakia, the Czech Republic and Serbia.
ďThis transaction is in line with our companyís strategy that provides for further expansion of LUKOILís lubricant business on the global market. The favorable geographic location near foreign car makers and industrial enterprises, a well-tuned distribution system in Europe, modern production facilities, unique scientific developments and the vast professional experience of the companyís employees are the significant factors that became decisive for usĒ, Vagit Alekperov, OAO LUKOIL President, commented.
The transaction will also create synergy with LLC-Internationalís plants in Romania and Finland, optimize the supply logistics of lubricants to the companyís strategic partners and strengthen LUKOILís scientific and technical potential for the development of new lubricants.
The popularity and customer loyalty to the goods manufactured by a leading European company will broaden the product range, support the positions of the LUKOIL-branded oils in the foreign markets and create new sales opportunities for LUKOILís premium-class lubricants in all other regions of the companyís presence.
Source: Press Centre OAO "LUKOIL"
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